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Reclusive Mankekar makes a splash with Solara stake


In the March quarter, Solara’s sales grew almost 50 per cent year-on-year to Rs 444 crore and net profit stood at Rs 56.6 crore, up 218 per cent.

Synopsis

The Mumbai-based reclusive investor held nearly 4 per cent stake in Sequent Scientific till March 2018 and about 2.07 per cent in Strides Pharma till September 2017. This is Mankekar’s first major investment since September 2019. Shareholding data showed he has not owned over 1 per cent in any company since then.

Mumbai: Shivanand Mankekar, one of India’s richest individual investors, bought a 2.3 per cent stake in Solara Active Pharma Science worth Rs 135 crore on Monday. The company was formed by carving out the API (active pharmaceutical ingredient) business of Strides Pharma and merging it with the human API business of Sequent Scientific.

The Mumbai-based reclusive investor held nearly 4 per cent stake in Sequent Scientific till March 2018 and

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